Filling vacancies in out of state rental

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  • Rental Property Investor · Miami, FL · Member since 2015 · 179 posts · 292 votes
    8y

    Your property management company should have all the strategies and systems in place to keep your property occupied.

    If you are self-managing from out-of-state (typically a bad idea) then you want to make sure that you work with a local "leasing agent" (depending o  the size of the property) and you have a solid budget allocated for marketing and ideally get to the point where you have a waiting list.

  • Rental Property Investor · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
    8y

    @Matthew Fitzgerald You've been offered great advice by @Lennon Lee. How are you/were you doing this? 

    Unless you're renting ultra high-end properties, you need boots-on-the-ground that will do the leasing, ensure that all the maintenance work is done and generally keeping their eyes on everything.

  • Acton, CA · Member since 2017 · 57 posts · 18 votes
    8y
    @Omar Khan thanks and @Lennon Lee, our property manager is doing these things. We are having an issue finding quality tenants. We have c property in a c part of town. For the area our property is larger then typical units and we offer garages for all units. We acquired this property last year in November and after dealing with a poor property manager and switching to a new one we have filled two of our 7 vacancies in about two months. Not sure if either of you have experience or input, any ideas would be appreciated.
  • Specialist · Fort Collins, CO · Member since 2018 · 557 posts · 191 votes
    8y

    Hi Matthew! I would recommend looking at similar properties in your area to make sure your rental is priced correctly. It may be that your rent is too high for C-class tenants. I would also take a look at how your property manager is advertising your property. Are the pictures professional? Are they posting the listing on all the possible listing sites? And so on... Best of luck finding tenants! 

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